Columbia Property Trust, Inc. (CXP) Lifted to Hold at BidaskClub
Columbia Property Trust, Inc. (NYSE:CXP) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.
Several other equities research analysts also recently issued reports on CXP. Evercore ISI upgraded Columbia Property Trust from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $24.50 to $25.00 in a report on Monday, March 27th. Zacks Investment Research lowered Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. BMO Capital Markets reiterated a “buy” rating and set a $26.00 target price on shares of Columbia Property Trust in a research report on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $21.00 price objective on shares of Columbia Property Trust in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.33.
Shares of Columbia Property Trust (NYSE:CXP) traded up 0.67% during mid-day trading on Thursday, reaching $22.49. 345,438 shares of the company traded hands. The stock has a market capitalization of $2.75 billion, a PE ratio of 18.14 and a beta of 1.17. Columbia Property Trust has a 52-week low of $20.27 and a 52-week high of $24.63. The stock’s 50 day moving average is $21.98 and its 200 day moving average is $22.15.
Columbia Property Trust (NYSE:CXP) last posted its earnings results on Thursday, April 27th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $100.52 million. Columbia Property Trust had a return on equity of 6.02% and a net margin of 35.49%. Columbia Property Trust’s revenue for the quarter was down 35.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS.
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Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Columbia Property Trust by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,899,205 shares of the real estate investment trust’s stock worth $420,507,000 after buying an additional 417,322 shares in the last quarter. BlackRock Inc. raised its position in shares of Columbia Property Trust by 3,883.4% in the first quarter. BlackRock Inc. now owns 8,072,968 shares of the real estate investment trust’s stock worth $179,623,000 after buying an additional 7,870,304 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Columbia Property Trust by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,635,794 shares of the real estate investment trust’s stock worth $36,396,000 after buying an additional 111,597 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Columbia Property Trust by 704.9% in the first quarter. Prudential Financial Inc. now owns 1,344,846 shares of the real estate investment trust’s stock worth $29,923,000 after buying an additional 1,177,771 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Columbia Property Trust during the fourth quarter worth $27,971,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.
About Columbia Property Trust
Columbia Property Trust, Inc operates as a real estate investment trust (REIT), which owns and operates commercial real estate properties. The Company’s primary objective is to generate long-term shareholder returns from a combination of steadily growing cash flows and appreciation in its net asset values, through the acquisition and ownership of office buildings located principally in high-barrier-to-entry markets.
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